Effective Date: 19th Oct, 2024

The following rules and guidelines are established to ensure that Nepal Escrow operates efficiently, ethically, and in compliance with the laws and regulations of Nepal. These rules apply to all employees, clients, contractors, and third-party associates of Nepal Escrow.

1. Compliance with Nepalese Laws and Regulations

All employees, partners, and clients must comply with Nepalese laws, including but not limited to:

  • Contract Act, 2056 (2000) – Governing agreements between parties.
  • Company Act, 2063 (2006) – For all business operations and company policies.
  • Anti-Money Laundering Act, 2064 (2008) – Ensuring adherence to AML regulations.
  • Payment and Settlement Act, 2075 (2019) – Governing payment processing.
  • Foreign Exchange Regulation Act, 2019 (1962) – Governing foreign currency transactions.

Any activity that violates local, regional, or international laws is strictly prohibited.

2. Confidentiality and Data Protection

Employees and clients must:

  • Confidentiality: Maintain the confidentiality of client information, sensitive business data, transaction details, and personal identification information at all times.
  • Data Protection: Comply with Nepal’s Privacy Law and other relevant data protection regulations. Sensitive information must be stored securely and only used for legitimate business purposes.

Violations of confidentiality or data protection rules can result in legal action and termination of employment or service agreements.

3. Code of Conduct for Employees

All employees are required to follow the professional code of conduct:

  • Integrity: Act with honesty and transparency in all dealings with clients, colleagues, and partners.
  • Professionalism: Display professionalism in communication, behavior, and attire. This includes respecting the rights and opinions of others.
  • Conflict of Interest: Avoid any activity or relationship that could conflict with the interests of Nepal Escrow or its clients. Employees must disclose any potential conflicts of interest.
  • Non-Discrimination: Ensure that all clients, partners, and colleagues are treated fairly, without discrimination based on race, gender, age, religion, or any other protected characteristic.
  • Conflicts and Harassment: Nepal Escrow has a zero-tolerance policy toward workplace harassment or bullying. Any such behavior should be reported immediately.

4. Payment Policies

All employees and clients are required to comply with the Payment Policy outlined by Nepal Escrow:

  • Employees responsible for handling transactions must ensure that all payments are processed in a timely and secure manner, following the steps for verification, deposit, and release.
  • All fees, charges, and taxes must be transparently communicated to clients.
  • Employees must report any suspicious or fraudulent transactions in line with anti-money laundering regulations.

5. Anti-Fraud and Anti-Corruption Policy

Nepal Escrow strictly prohibits any involvement in fraudulent activities or corruption:

  • Fraud Prevention: Employees must follow internal controls to detect and prevent fraud. Any employee found to be engaging in fraudulent activities will face disciplinary action, including potential termination and legal consequences.
  • Reporting Fraud: Employees, clients, and partners are encouraged to report any fraudulent activities or suspicious behavior immediately to management.
  • Bribery: Accepting or offering bribes is strictly prohibited. Any attempt to influence a business decision through illegal means will result in termination and possible criminal prosecution.

6. Use of Company Property

Employees must use company property, including digital platforms, financial tools, and office equipment, responsibly and for legitimate business purposes only:

  • IT and Software Systems: Employees must follow best practices for cybersecurity and ensure company devices and systems are used securely.
  • Escrow Accounts: Employees with access to escrow accounts must ensure all transactions are accurately recorded and documented.

Misuse of company property can lead to disciplinary action.

7. Communication and Client Relations

  • Client Communication: Employees must maintain clear, honest, and timely communication with clients. Queries should be responded to within 24 business hours.
  • Dispute Resolution: Employees handling disputes between buyers and sellers should follow the process outlined in our Terms and Conditions to resolve matters fairly and efficiently.

8. Disciplinary Actions

Nepal Escrow reserves the right to take disciplinary actions against employees or clients who violate these rules:

  • Types of Violations: Non-compliance with laws, breach of company policies, confidentiality breaches, fraud, harassment, discrimination, and conflicts of interest.
  • Disciplinary Measures: Disciplinary measures may include verbal or written warnings, suspension, termination of employment or services, and potential legal action.

Employees will be informed of any disciplinary process and given the opportunity to explain their actions.

9. Attendance and Leave Policy

  • Work Hours: All employees are required to work the hours agreed upon in their employment contracts and must inform their supervisor of any absences.
  • Leave: Employees must request leave in accordance with the company’s leave policies and provide sufficient notice.
  • Remote Work: If working remotely, employees must remain reachable during standard work hours and meet deadlines as required.

10. Health and Safety

Nepal Escrow is committed to providing a safe working environment:

  • Employees must follow all health and safety guidelines as established by the company.
  • Report any unsafe working conditions or potential hazards immediately.

11. Anti-Money Laundering (AML) Compliance

All employees must adhere to Nepal’s Anti-Money Laundering Act, 2064 (2008) and follow internal policies to ensure compliance:

  • Due Diligence: Employees must conduct due diligence for all clients, verifying their identities and ensuring compliance with AML requirements.
  • Record-Keeping: Maintain records of transactions for a minimum period as required by law (typically five years).
  • Suspicious Activity Reporting: Report any suspicious activities or transactions to the appropriate authority in accordance with legal requirements.

12. Reporting Violations

  • Employees, clients, and partners are encouraged to report violations of these company rules or any unethical behavior.
  • Reports can be made anonymously, and the company will investigate all reported incidents confidentially.

13. Amendments to Company Rules

Nepal Escrow reserves the right to amend these company rules at any time. Employees and clients will be notified of any changes, and it is their responsibility to adhere to the updated rules.

Contact Information

If you have any questions regarding these Company Rules or wish to report a violation, please contact:

Kumarigal-08, Chabhill Kathmandu, Bagmati Province, Nepal
Kathmandu, Nepal
Email: info@nepalescrow.com
Phone: +977 9763535778